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By 2030, the market for heavy construction equipment will be worth $90.5 billion and is projected to expand at a compound annual growth rate (CAGR) of 6.4%. Over the projection period, growth is anticipated to be fueled by increased investment in the infrastructure sector. Due to an increase in construction activity, heavy-duty construction equipment is projected to experience considerable demand from the infrastructure sector. In recent years, the U.S. construction industry has experienced weak demand. The amount spent on non-residential private building rose from USD 267 billion in 2010 to USD 400 billion in 2016, notwithstanding this decline. A major driver of market expansion is anticipated to be consistent investment in the sector.
Due to strong demand from the residential market, the construction industry in the nation has experienced consistent growth in 2017, which has increased demand for heavy-duty machinery. In comparison to 2016, unit sales climbed by almost 9,675 in 2017. Positive real estate market dynamics in places like Seattle, Austin, Dallas, and Fort Lauderdale are projected to encourage the construction of new infrastructure, which will support market expansion during the forecast period.
Demand for new investments in the industry is being fueled by a consistent rise in residential property prices and a rise in housing supply. Seattle experienced the fastest increase in housing costs in 2016, with a 10.7% increase. According to the U.S. Census Bureau, the number of new dwelling units increased by almost 6.2% in February 2017 over the same month last year. The market is extremely consolidated, with Caterpillar holding the majority in 2016. Volvo and Komatsu are a couple more players in the market. To enhance their market share, competitors have begun offering refurbished equipment backed by warranty certificates.
A significant issue for this business, meanwhile, was a decline in the export of various types of machinery worldwide. According to data from 2014 compared to 2013, the United States' exports of construction equipment decreased by over 17%, according to the Association of Equipment Manufacturers. From 2011 to 2015, this downward trend persisted, and overall exports decreased by about 25%. From 2011 to 2015, exports in the Asia Pacific region fell by around 38%. Chinese manufacturers continued to thrive during this period, with XCMG and SANY ranking among the top producers of construction equipment.
The improvement of automation in manufacturing and construction processes, as well as the greater focus on infrastructure, have a favourable effect on industrial growth. The expansion of road development programmes carried out by various national and state governments has led to a major increase in the market for road construction machinery in recent years. The Asia-Pacific region's increasing use of these initiatives is propelling market expansion throughout the anticipated period.
Report Coverage
Global Heavy Construction Equipment research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Heavy Construction Equipment report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Heavy Construction Equipment competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Heavy Construction Equipment market players and analyses their core competencies in each global market sub-segments.
Key Points Covered in the Report
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Heavy Construction Equipment market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Heavy Construction Equipment market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
Hitachi Construction Machinery Co. Ltd., Liebherr, Deere & Company, Doosan Bobcat, XCMG Group, SANY Group, Zoomlion Heavy Industry Science & Technology Co. Ltd.
Primary Target Market
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. Spherical Insights has segmented the global Heavy Construction Equipment market based on the below-mentioned segments:
Global Heavy Construction Equipment Market, By Product
Earth Moving Machinery
Material Handling Machinery
Concrete & Road Machinery
Others
Global Heavy Construction Equipment market, By Application
Infrastructure
Real Estate
Others
Global Heavy Construction Equipment market, Regional Analysis
Due to strong demand from the residential market, the construction industry in the nation has experienced consistent growth in 2017, which has increased demand for heavy-duty machinery. In comparison to 2016, unit sales climbed by almost 9,675 in 2017. Positive real estate market dynamics in places like Seattle, Austin, Dallas, and Fort Lauderdale are projected to encourage the construction of new infrastructure, which will support market expansion during the forecast period.
Demand for new investments in the industry is being fueled by a consistent rise in residential property prices and a rise in housing supply. Seattle experienced the fastest increase in housing costs in 2016, with a 10.7% increase. According to the U.S. Census Bureau, the number of new dwelling units increased by almost 6.2% in February 2017 over the same month last year. The market is extremely consolidated, with Caterpillar holding the majority in 2016. Volvo and Komatsu are a couple more players in the market. To enhance their market share, competitors have begun offering refurbished equipment backed by warranty certificates.
A significant issue for this business, meanwhile, was a decline in the export of various types of machinery worldwide. According to data from 2014 compared to 2013, the United States' exports of construction equipment decreased by over 17%, according to the Association of Equipment Manufacturers. From 2011 to 2015, this downward trend persisted, and overall exports decreased by about 25%. From 2011 to 2015, exports in the Asia Pacific region fell by around 38%. Chinese manufacturers continued to thrive during this period, with XCMG and SANY ranking among the top producers of construction equipment.
The improvement of automation in manufacturing and construction processes, as well as the greater focus on infrastructure, have a favourable effect on industrial growth. The expansion of road development programmes carried out by various national and state governments has led to a major increase in the market for road construction machinery in recent years. The Asia-Pacific region's increasing use of these initiatives is propelling market expansion throughout the anticipated period.
Report Coverage
Global Heavy Construction Equipment research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Heavy Construction Equipment report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Heavy Construction Equipment competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Heavy Construction Equipment market players and analyses their core competencies in each global market sub-segments.
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period | 2017-2030 |
| Base Year | 2020 |
| Forecast Period | 2022-2030 |
| Historical Period | 2017-2019 |
| Unit | Value (USD Billion) |
| Key Companies Profiled | Hitachi Construction Machinery Co. Ltd., Liebherr, Deere & Company, Doosan Bobcat, XCMG Group, SANY Group, Zoomlion Heavy Industry Science & Technology Co. Ltd. |
| Segments Covered | • By Product |
| Customization Scope | Free report customization (equivalent to up to 3 analyst working days) with purchase. Addition or alteration to country, regional & segment scope |
Key Points Covered in the Report
- Market Revenue of Heavy Construction Equipment Market from 2021 to 2030.
- Market Forecast for Heavy Construction Equipment Market from 2021 to 2030.
- Regional Market Share and Revenue from 2021 to 2030.
- Country Market share within region from 2021 to 2030.
- Key Type and Application Revenue and forecast.
- Company Market Share Analysis, Heavy Construction Equipment competitive scenario, ranking, and detailed company
profiles. - Market driver, restraints, and detailed COVID-19 impact on Heavy Construction Equipment
Market
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Heavy Construction Equipment market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Heavy Construction Equipment market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
Hitachi Construction Machinery Co. Ltd., Liebherr, Deere & Company, Doosan Bobcat, XCMG Group, SANY Group, Zoomlion Heavy Industry Science & Technology Co. Ltd.
Primary Target Market
- Market Players of Heavy Construction Equipment
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. Spherical Insights has segmented the global Heavy Construction Equipment market based on the below-mentioned segments:
Global Heavy Construction Equipment Market, By Product
Earth Moving Machinery
Material Handling Machinery
Concrete & Road Machinery
Others
Global Heavy Construction Equipment market, By Application
Infrastructure
Real Estate
Others
Global Heavy Construction Equipment market, Regional Analysis
- Europe: Germany, Uk, France, Italy, Spain, Russia, Rest of Europe
- The Asia Pacific: China,Japan,India,South Korea,Australia,Rest of Asia Pacific
- South America: Brazil, Argentina, Rest of South America
- Middle East & Africa: UAE, Saudi Arabia, Qatar, South Africa, Rest of Middle East & Africa
About This Research
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